Online Terms and Conditions
1. Recitals
1.1. The Online Terms and Conditions shall apply to every e-auction sale for immovable property on www.rajanauctioneers.com
1.2. “www.rajanauctioneers.com” is a website under the ownership of Rajan Auctioneers Sdn Bhd (Registration No.: 889884-H)(”the Auctioneer”) whose address is at: No.36A, 1st Floor, Jalan Dato Hamzah, 41000 Klang, Selangor.
1.3. The terms and condition shall prevail along with the terms and conditions stipulated in attached Proclamation of Sales and Conditions of Sales.
1.4. The particulars and schedule of public auction by the Auctioneer such as venue, time and date will be announced in the Proclamation of Sales.
1.5. E-Bidder who are interested to participate in the auction are required to accept and agree with the Online Terms and Conditions before proceeding with registration
1.6. E-Bidders are solely responsible to login to the correct and valid Auctioneer’s website at http://www.rajanauctioneers.com and not otherwise. The Assignee/Bank, the Assignee/Bank’s Solicitors, the Auctioneer and their website and their respective agents or servants shall not be liable if E-Bidder intentionally or unintentionally, wrongly or mistakenly login to fake, fraudulent and scam website.
1.7. E-Bidders, who have deposited the 10% deposit of the reserve price of the subject property, they intended to bid for (“the property”) shall fulfil other conditions as per the Conditions of Sales and will receive notification from the Auctioneer as “Registered E-Bidders”.
1.8. Registered E-Bidders are entitled to participate in every public auction
1.9. The Auctioneers shall have the sole discretion to update and amend the Online Terms and Conditions from time to time.
1.10. E-Bidders are solely responsible to ensure that the internet connection is stable at the commencement of and for the entire proceedings.
1.11. The Auctioneer will not bear any responsibility for any disruption, delays, failures, errors, omissions, or loss of transmitted information due to poor internet connection during the auction.
1.12. Decisions made by the Auctioneer shall be final and no reversal in decision can made.
2. Eligibility of Registered E-Bidders.
2.1. E-Bidders who register as a user to participate in every public auction on Rajan Auctioneers website shall:
2.1.1. Be of 18 years and above, sound mind and not an undischarged bankrupt;
2.1.2. For a company, be incorporated under the laws of Malaysia and must not be in liquidation;
2.1.3. Be able to take, fulfil and perform all necessary actions, conditions and matters (including obtaining any necessary consents) in terms of law to enable E-Bidders to participate in the public auction and complete the purchase in the event of successful bid.
2.2. E-Bidders’ eligibility requirements are also subject to the existing Federal and State legalprovisions.Non-Malaysian bidders or companies are also advised to take note of restrictions applicable on foreign purchase policy imposed by relevant authorities.
3. Requirements for E-Bidders
3.1. For Individual/ Joint E-Bidders, the following documents shall be uploaded during online registration;
3.1.1. Copy of Identification Documents (both sides)
3.1.2. Evidence of deposit payment
3.2. For Agent acting for Individual/ Joint Online Bidders, the following documents shall be uploaded during online registration;
3.2.1. Copy of Identification Documents (both sides) of Individual/ Joint Online Bidder
3.2.2. Copy of Identification Documents (both sides) of Agent
3.2.3. Copy of letter of authorization to bid
3.2.4. Evidence of deposit payment
3.3. For Company, the following documents shall be uploaded during online registration:
3.3.1. Copy of Identification Documents (both sides) of the representative.
3.3.2. Copy of letter of authorization to bid under the Company’s Letter Head
3.3.3. Form 24; Form 44; Form 49 (or their equivalent forms under the Companies Act 2016)
3.3.4. Certified true copy of the company’s Memorandum and Articles of Association (M&A)
3.3.5. Board of Director’s Resolution
3.3.6. Evidence of deposit payment
3.4. E-Bidders who are a Foreign Citizen, Foreign Company or Permanent Resident are only allowed to bid for the property with the prior written consent of the Foreign Investment Committee and/or Economic Planning Unit of the Prime Minister Department and/or relevant authorities which shall be uploaded during online registration failing which, the Auctioneer has the sole discretion to reject their registration as registered E-Bidders.
4. Registration for E-Bidders
4.1. Parties who are interested to participate in public auction as (“E-Bidders”) may do so by logging on to the Auctioneer’s website and register as a user.
4.2. E-Bidders shall provide true, current and accurate information to register as a user.
4.3. E-Bidders are required to complete the registration process by inserting the relevant details and uploading the relevant documents including evidence of payment of the deposit in the Auctioneer’s website latest by 12.00 noon, at least one (1) working day before the auction date.
4.4. Registered E-Bidders will be provided with the user ID and password. This user ID and password can be used for a session only.
4.5. E-Bidders may browse through the Auctioneer’s website and select the properties they wish to bid.
4.6. E-Bidders are responsible to identify the property properly and to ensure that the details and description of the property are correct and accurate before bidding.
4.7. The terms & Conditions shall be read together with all the Conditions of Sale attached to the Proclamation of Sale which is uploaded on the Auctioneer’s website and shall be deemed to have been read and agreed upon by the E-Bidders prior to bidding. In the event of any inconsistency between the Terms & Conditions stated herein and the Conditions of Sale attached to the Proclamation of Sale shall prevail.
4.8. It is the sole and absolute responsibility of all intending E-bidders at their own costs and expense, seek and obtain information about the property from the Developer and/or the relevant authorities or bodies, all confirmations and/or consents as may be required or as may be applicable in respect of the purchase of the property and to satisfy themselves on the physical condition of the property and all matters in connection with the property prior to the bidding (including and not limited to verifying the identity, particulars, state and condition of the property and the terms of the conditions and restrictions affecting the property if any, whether or not the property is reserved Bumiputra or Malay only and/or is a low cost property, and matters relating to the ownership and transfer of the property, the status of the separate document of title to the property and its particulars, the liabilities including amounts of outstanding service or maintenance charges owing and other obligations pertaining to the property and the E-Bidders’ eligibility and qualification to purchase the property). E-Bidders shall be deemed to have full knowledge of all of the matters aforesaid. The Auctioneer, the Assignee/Bank, the Assignee/Bank’s solicitors and the Auctioneer’s website and their respective agents or servants do not in any way make any representation or warranty in respect of any of the aforesaid and shall not in any way be responsible or liable to the E-Bidders in respect of any of the aforesaid.
5. 10% Deposit Payment of The Fixed Reserve Price
5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price.
5.2. Payment of the deposit must be made via local bank transfer to MALAYAN BANKING BERHAD in favour of Rajan Auctioneers Bidders Account (BIDDER DEPOSIT). Transaction must be done with in one (1) working day before auction date with the following details; a) Account’s Name : XXXXXXXX b) Name of Bank : XXXXXXXX c) Account Number : XXXXXXXX d) Description : BIDDER DEPOSIT
5.3. Evidence of the transfer must be uploaded and submitted at the time of registration.
5.4. E-Bidders residing outside Malaysia/ (“Foreign E-Bidders”) must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. Payment of the deposit must be made to as per mentioned in Proclamation of Sale in favour of the Auctioneer in accordance with 5.2 herein above and evidence of payment must be uploaded and submitted at noreply@rajanauctioneers.com or WhatsApp at 013-3040041 within (4) working days before auction date.
6. Verification of the Registration of E-Bidders
6.1. Registration shall subject to verification and approval of the Auctioneer’s website and subject further to bank’s clearance of deposit payment. Please take note that approval from the Auctioneer’s administrator may take at least 1 working day and any improper, incomplete registration or late registration may be rejected at the sole discretion of the Auctioneer. Neither the Auctioneer nor its website nor its agents and/or representative bears any responsibility or assumes any liability in the event that the registration of a prospective E-Bidders is rejected and/or delayed for any reason whatsoever. In the event of the registration is rejected, the deposit paid (if cleared by the bank) shall be refunded to the same bank account from which the deposit transfer was made within three (3) working days.
6.2. Upon approval and verification by the Auctioneer’s website and subject to the deposit payment being cleared by the bank, registered E-Bidders will receive a password, i.e. “PIN”, and a secured hyperlink via WhatsApp to the registered mobile number or email which allows the registered E-Bidders to bid for their intended property on the auction day.
6.3. Registered E-Bidders hold the utmost responsibility in the privacy and confidentiality of the given user ID and password. In the event of given user ID and password disclosed to any other person at any time intentionally or unintentionally, the registered E-bidders must notify immediately to the Auctioneer.
7. Withdrawal Before Bidding
7.1. Registered E-Bidders, who have completed the 10% deposit payment, are entitled to withdraw from the auction at least one (1) working day before the auction date by 5.00 pm.
7.2. The 10% deposit will be refunded back to the E-Bidders within three (3) working days via online banking.
8. Bidding Amount
8.1. The Auctioneer shall have discretion to determine the increase of bidding rate based on the total number of Registered E-Bidders and value of the property auctioned.
8.2. In the event there is only one Registered E-Bidders during the auction, the public auction will begin at the property's reserve price while if there are more than one Registered E-Bidders, the public auction will begin at the increment rate which to be determined.
9. Bidding Procedures
9.1. For property with only single bidder, the property will be sold at the reserve price. The single bidder is required to click on the “Accept” button.
9.2. For property with multiple bidders, the bidding amount will be determined by the auctioneer with a new starting price.
9.3. E-bidding shall commence based on the sequence of the property lot displayed in the bidding page (Property with Auction Date)
9.4. E-Bidders shall login to the website fifteen (15) minutes before the auction commences and wait for their turn to bid for the property which they have registered.
9.5. The auction shall commence with countdown of 6,5,4,3,2,1 followed by a flash message which states “Bidding Starts”.
9.6. Registered E-Bidders can bid by clicking on the bidding amount button in the website with increments of RM 1000, RM 2000, RM 3000, RM 5000 and RM 10000. Every bid will be announced by “Calling 1”, “Calling 2” and “Calling 3”.Upon the fall of hammer after “Calling 3”, the bidding ends.
9.7. Successful and unsuccessful E-Bidders will be notified via email.
9.8. In the event of any dispute as to any bid or any dispute arising prior to, during or resulting from the auction sale after the fall of hammer, the Auctioneer may at his own option forthwith determine the dispute or put up the property for sale again or put the property at the last undisputed bid and/or in the event the public auction is deferred due to technical reasons, clarification, disruption or unforeseen circumstances, the Auctioneer may at his discretion decide to pause, restart, postpone and/or withdraw the property from the public auction and the registered E-Bidders will be notified of this on the bidding page of the Auctioneer’s website.
9.9. The Assignee/Bank shall be and is hereby at liberty to postpone, adjourn, stand down, call off, withdraw or vacate the auction sale at any time before the fall of hammer with or without notice and without having to provide any reason(s) or ground(s) whatsoever and the registered E-Bidders will be notified on the Auctioneer’s website.
9.10. The decision of the Auctioneers shall be final and conclusive.
10. Post Public Auction
10.1. Successful E-Bidder are advised to sign the “Memorandum of Contract” and pay the 10% differential sum within 3 working days by attending to the Auctioneer’s office from the date of auction. Failing to do so will result in the 10% deposit to be forfeited to the Assignee/Bank and the auction shall be deemed cancelled.
10.2. Successful E-Bidder who are unable to sign the “Memorandum of Contract” at the Auctioneer’s office can authorize their agent to execute the procedure by submitting the following documents to the Auctioneer.
10.2.1. Copy of the agent’s Identity Documents (both sides)
10.2.2. Copy of the successful E-Bidder’s Identity Documents (both sides)
10.2.3. Copy of the Letter of Authorization (for individual) or certified true copy of the Board of Director’s Resolution (for company) authorizing such person to do so.
10.3. In the event of inconsistency in the details of the documents uploaded in the Auctioneer’s website and the actual documents of the successful E-Bidder, the Auctioneer has the right to cancel and terminate the sale and the 10% deposit shall be forfeited by the Assignee/Bank. The property shall be put up for sale again.
10.4. The “Memorandum of Contract” that is signed and stamped shall be collected by the successful E-Bidder or his agent at the Auctioneer office within seven (7) days after notification from the Auctioneer. If the E-Bidder fails to collect as aforesaid, the “Memorandum of Contract” shall be delivered by courier to the address of the successful E-Bidder and the Auctioneer shall be not responsible for the cost, expenses and loss arising thereof.
10.5. Balance of purchase price shall be settled within ninety (90) days from the date of auction sale by the successful E-Bidder
11. Applicable Laws and Jurisdiction
11.1. The usage of the Auctioneer’s website together with the Online Terms & Conditions stated herein shall be governed by and construed in accordance with the laws of Malaysia.
11.2. The laws of Malaysia shall regulate and apply to all electronic transactions of immoveable property by public auction. Any legal actions or proceedings arising out of or in connection with the electronic transaction of immoveable property by public auction shall subject to the exclusive jurisdiction of the Courts of Malaysia.
12. Confidentiality of Information
12.1. By accessing the Auctioneer’s website i.e. www.rajanauctioneers.com, all online E-Bidder acknowledge and agree that the Auctioneer and its website may collect, retain, or disclose the online E-Bidder information or any information by the Online Bdders online E-Bidder for the effectiveness of services and the collected, retained or disclosed information shall comply with Personal Data Protection Act 2010 and any regulations, laws or rules applicable from time to time.
12.2 E-Bidder shall accept all associated risks when using the service in the Auctioneer’s website and shall not make any claim for any unauthorized access or any consequential loss or damage suffered.
12.3 E-Bidder shall be responsible for the confidentiality and use of password and not to reveal the password to anyone at any time and under any circumstances, whether intentionally or unintentionally.
12.4. E-Bidder shall comply with all the security measures related to safety of the password or generally in respect of the use of the service in the Auctioneer’s website.
12.5.E-Bidder hereby accept the responsibility that in any event that the password is in the possession of any other person whether intentionally or unintentionally, the E-Bidders shall take precautionary steps for the disclosure, discovery, or the E-Bidder shall immediately notify the Auctioneer.
13. Intellectual Property
13.1. Information such as documents, text, images, data and graphics displayed in the Auctioneer’s website at www.rajanauctioneers.com shall not be published or used for other purposes without the permission of the Auctioneer.
13.2. In the event of infringement of the intellectual property rights under the Online Terms and Conditions herein, the Auctioneer may use any available legal remedies and/or take legal action which includes the demand for statutory damage, solicitors’ fee and injunctive reliefs.
14. Miscellaneous
14.1. In the event of any inconsistency, discrepancy, misstatement or error appearing in translations of the particulars and the Online Terms and Conditions to any other language (if any), the Online Terms and Conditions in the English language shall prevail.